When a patient has coronary artery disease, a tiny tubular medical device called a coronary stents is put into the coronary artery and can expand. A coronary artery blockage might result in a life-threatening situation. The main purpose of the stents is to unblock the blocked heart arteries through minimally invasive surgery.

The market for coronary stents in 2021 was USD 8.56 billion, and by 2030 it will reach USD 13.03 billion, growing at a 4.78% CAGR during the forecast period.

Factors such as the rising rate of cardiovascular illnesses, the aging population, and the rising acceptability of minimally invasive endovascular operations are boosting the market growth. However, the market’s expansion is being constrained by strict governmental regulations, expensive stent implant costs, and the availability of alternative treatment options. 

Market Dynamics

Drivers

Unlike intrusive procedures like PCI, minimally invasive procedures like coronary angioplasty/stenting and coronary artery bypass surgery (CABS) do not require large incisions. These methods are becoming more and more necessary due to their advantages, which include shorter hospital stays, less scarring, less pain, minor surgical trauma, and an earlier return to normal activity. Many patients are choosing less invasive procedures in light of these benefits. It thus increases demand for goods like catheters, stents, and balloons.

Restraints

Despite the growing need for treatment options, the difficulty of using coronary stents may limit growth. Furthermore, severe regulatory limitations on product licenses will impede market expansion. 

Opportunity 

Minimally invasive surgeries (MIS) are becoming more popular because they need fewer hospital stays and speed up recovery. The market for these procedures will rise significantly in the next years. The MIS market will reach a value of USD 33.667 billion in 2028, with an overall growth rate of 7.51%.

Market Segmentation 

By Type

On the basis of type, the market is segmented into bioabsorbable stents, drug-eluting stents, and bare-metal stents.

The Drug-Eluting Stents (DES) segment in 2021 held the biggest revenue share of over 66.0%. The constant innovation and release of new devices are critical factors in cementing DES’s position as the preferred device for PCI procedures. The market’s rivals continue to create and introduce technologically sophisticated DES, with significant debuts, including XIENCE Skypoint by Abbott Laboratories, Resolute Onyx by Medtronic, and Synergy by Boston Scientific.

By Mode of Delivery

On the basis of the mode of delivery, the market is segmented into self-expanding stents and balloon-expandable stents.

In 2021, the self-expandable market sector held a market share of roughly 57%. Self-expandable stents are extremely productive, and the growing number of manufacturers worldwide is a key market-dominating driver for these devices.

By End-User

On the basis of end-user, the market is segmented into cardiac centers, hospitals, and ambulatory surgical centers. 

With a market share of approximately 25% in 2021, the hospital sector dominated the industry. This is because the majority of procedures, including angioplasty, are carried out in hospital facilities. Owing to the hospital’s accessibility to the greatest facilities, these operations are becoming increasingly popular in hospitals.

Regional Overview 

With a revenue share of approximately 32.0% in 2021, North America ruled the market for coronary stents. The coronary stents market in North America is primarily driven by a sedentary lifestyle that causes obesity and other cardiovascular disorders like heart attack, stroke, ischaemic heart disease (IHD), etc. Technological developments in coronary stent technologies, such as drug-eluting stents and the utilization of biodegradable materials, have also driven market growth.

The market for coronary stents in Asia Pacific will develop at the quickest rate in revenue. This market is driven by improved CAD screening, economic expansion, regulatory revisions, and notably favorable reimbursement in select nations, including Australia and South Korea.

Key Players 

  • Transluminal
  • Meril Life Sciences Pvt. Ltd
  • MicroPort Scientific Corporation
  • STENTYS SA
  • Vascular Concepts
  • Terumo Corporation
  • B. Braun Melsungen AG
  • Cook Medical
  • BIOTRONIK SE & Co. KG
  • Boston Scientific Corporation
  • Abbott
  • Biosensors International Group Limited
  • Medtronic Plc

The market for coronary stents in 2021 was USD 8.56 billion, and by 2030 it will reach USD 13.03 billion, growing at a 4.78% CAGR during the forecast period. Factors driving market expansion are the rise of cardiac disorders, particularly coronary artery disease, caused by poor diets and sedentary lifestyles. The adoption of new technologies and increased disposable income are further factors in the development of markets.

Moreover, as per research distributed in the Public Library of Medication in June 2021, one of the CVDs, coronary supply route illness (computer aided design), causes around 610,000 fatalities yearly (an expected 1 of every 4 passings) and is the significant reason for mortality in the US.

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